Telegram-herald., 1887-04-16
BUSINESS BLOCKED
Great Embarrassment nom
the Inter State Commerce
Act.
A. c. Duh { CO.'S EEEgLi REVIEW.
Retail Trade Generally Geod-~oner
Abgndznt-RsaiE Estate Speculation
Rampant in tho west Fewer
Failures This Week.

-
Weeklg eegieg of lfs5e wiil sag When Car
Isle sac it would be found impossible 10
get wise laws tor The suffrage OF sundry
millions mostly fools be sesms 10 have
hal provision Of The Inter STATE CON-
msree act The chief feature II the week,
IL e0rnmercs and Industry. is TIE embar-
FzssIaent resulting fFom the enactment No
one yet knows what is elect viii De, bat
millions sh0 favored II already Sc that is
wOrK Kings 90 not help them. The oOlnmls-
sion has not yet Suspended the operation
oi the short haul ciAass for S0fthera roaGs
generally. Du. one Blted states conrt has
us Is IL uos applicable 10 a. Oregon road
and another nss ordered Texas road ia
Lae bands % a receiver % disregard this
provision. and no one can guess what
changes IA rates may 81 any time be made
by orders OF conrfs o. the commission. The
general effect thus far IS 10 increase the cost
II transportation.
and 10 impede. or arrest, distant shipments.
Western distributing cities md that Il
threatens 10 transfer much Of their trade 10
minor towns. On the other hand IL helps
some people. Thus manufacturers ind
nearby markets more within their control,
and domestic GRE producers ma foreign
iron ore practically excluded from many
points OF large consumption. Considering
Tue embarrassment from uncertainty as 10
ifeignts- accounts Of trade are surprisingly
satisfactory. At many points. n Is true;
merchants. as vet think only of the genera.
trade OF the year thus far as decidedly beis
ter than that OF anv previous year. Al
others the present dullness or stagnation IS
considered but temporary. and a hopeful
feeling prevails. but IL Is the almost uni-
yersal testimony that retail trade Is unusaliy
large No embarrassment appears in col
lections. except where real estate or mining
speculation looks no all available means. or
in some localities where bad roads still
block business. but in most cases improve
ment is reported
The remarkable activity in clearly con-
nected with the exceedingly plentiful sup
ply Of money. which at many points. as at
Memphis, money was never so abundant
before Rates rise to 10 per cent, or 3 TO
10 only st some far Western points. or
where speculation RACES, but are usually
moderate for the locality. The increase in
actual circulation of each kind OF money
from July to April has been $l4.4lS.034
in gold coin: 81 $50 09s in silver dollars. aud
81 $40 45f in subsidiary silver; total, S2l,-
21S5S5 in coin: SIS O0l 640 in gold certiti-
Gates. S43. .Si4 264 in silver certificates: $l9,-
9)0933 in 7 Tuited States notes, against de-
crease OF S23070 S6S in bank notes; net in
crease SIS 637 $50 in paper currency; total
increase, go. .S36. 155 in coin and paper, or
six and e-half per cent.
The stimulating effect OF such an additional
is everywhere felt. From Washington
news comes that the treasury, realizing the
risks of excessive issues. will now draw in
several certificates OF the larger denomina-
tions.
Speculation in real estate is rampant in
Colorado, spreading TO cities and towns
ba ~ hau coH oh
| locking ND of means in Minnesota and
/ other Western states. and has lad
vanced prices wonderfully at Philadelphia
" holds prices up. Tough the fever has
| abated At Nashville How for auch de-
msnds will prevent the return OF money
| usual at this season to commercial interest
| is vet in doubt, but no fear is felt of monzy
| going abroad. March exports Of products
| having been surprisingly large s. 600 900
more than last year IN cotton. 8, S000 900 in
breadstuffs and only 100000 less In oil.
| The prospect is that exports may have ex-
| ceeded imports in that month: against a
heavy excess Of imports last year Recent
| large purchases Of stocks on foreign account
| are reported. but with suspicious ostenta-
| ton. and foreign exchange remsiss stronger
| Tran y would naturally be IL money were
| coming this way to ray for mrny securities.
Prices did not change greatly last week,
| though wheat is lower and corn a little
| higher. with oats. oil. pork. hogs
/ and sugar unchanged Coffee has risen
| an eighth and cotton a sixteenth, though
| crop prospects at the SOnih are generally
accounted favorable lard is a shade
| stronger and beef sti5en. little on account
Of freight rates. but the enormous profuc-
| ton and the embarrassment in shipping
| products accounts for a decline of 81 cents
| in iron.
| IT, the dry goods business the situation il
not altered. the uncer,aint7 ~ the sales af-
/ fecting distant trade but cOfiees are strong
/ aud the wool market has become more
steady. MANY holders refusing to sell the
better grades st current prices. Territory
/ woods are pressed Tor sale and weak. An
1 improving trade is noted in hides, leather
l and boots and shoes.
| The business failures occurring through
1 ont the country during the last seven davs
\ number. for the nitei States i46. and for
Canada. - or n total Of l75. a. compared
| With total Of 223 last week o23 the week
previous to the last and 1s2 the correspond
| ing week Of last year.